Lloyd's Op-Eds

New York Times - October 7

October 7, 2011

Tags: New York Times

"Charging for Debit Cards Is Robbery"

When Bank of America told its customers recently that it would start charging them $5 a month to use debit cards, it argued that it was forced to make that change because of regulations that altered the economics of the cards. Other banks agreed. The chief executive of JPMorgan Chase, Jamie Dimon, put the effects of the regulations this way: “If you’re a restaurant and you can’t charge for the soda, you’re going to charge more for the burger.” Both banks were responding to the Federal Reserve’s actions to limit the interchange fees banks charge stores each time a debit card is used for a purchase. (more…)

Regular contributor to the Sunday "Perspectives" (Editorial) section of Hearst's Albany Times Union with op-eds on government, law and public policy. Read and comment at timesunion.com and on this website. "The Weekender" social commentary column appears on ccSCOOP.com, Columbia County's Home on the Web, and past columns are archived on this website under the Op-Ed button.
Nonfiction
A book about the ground-breaking case that shook the business and legal worlds to their very cores, New York-based law firm Constantine & Partners sought to end a devastating credit monopoly that personally touched millions of consumers. Its efforts culminated in the largest federal antitrust settlement in U.S. history.
Journal of the Plague Year
The March 10, 2008 disclosure that Governor Eliot Spitzer patronized prostitutes shocked admirers around the world who had celebrated him as the "Sheriff of Wall Street" and a likely future president.  Ironically, the author's disillusionment with Spitzer had begun to disappear 15 hours earlier, when Spitzer confessed to him what others would soon learn in a media storm of unprecedented intensity.  Journal of the Plague Year is Constantine's intimate account of the 17 calamitous months preceding the March 2008 revelation and the futile 61 hour battle waged by the author and the governor's wife to persuade Spitzer not to resign, but to instead fulfill promises made to the voters who had elected him in a record landslide.

Quick Links

Find Authors